Bank of America’s CEO is warning that Americans have not yet seen the full effect of the Federal Reserve’s 11 rate hikes. During his interview on "Mornings with Maria" Wednesday, Brian Moynihan, CEO and Chairman of Bank of America, reviewed the Fed’s monetary policies on rate hikes, urging the central bank to be careful not to "overshoot.""The drag on a middle market company whose, you know, line of credit went up by 500 basis points to make it simple. That's still affecting their decisions. And so, you're ...

“The rest of the industry weathered the storm and then got back on its feet. And you’re seeing it grow again. And that goes to show you that 15 years plus after the financial crisis we’ve kind of figured out the right balance between capital liquidity, what you can do in a bank, what you can’t do in a bank and getting it all straight. ”That’s Bank of America Corp. Chief Executive Brian Moynihan, who said Wednesday the bank is steering toward more growth in 2024 after the industry managed to navigate the fai ...

Jinda Noipho Co-authored with "Hidden Opportunities" As interest rates stay north of 5%, money market funds continue to see record inflows from retail investors. Investment Company Institute data shows total money market assets at $5.87 trillion. There are early signs of institutional capital moving out while retail investors continued piling on into these guaranteed instruments. There is no doubt that money market funds and CDs offer low-risk and steady interest income, and retail investors are rushing int ...

One major Wall Street bank is weighing in on what it calls “an extreme scenario” in which no Group-of-10 central bank cuts interest rates this year due to sticky inflation, strong economic growth, or fresh shocks that push price gains higher.In a note on Tuesday, Athanasios Vamvakidis, a U.K.-based FX strategist at Bank of America BAC, -2.44%, said it’s worth considering the implication of a seemingly “unrealistic” scenario in which major central banks stay on hold.For now, markets are pricing in about s ...

Key PointsCrocs continues to increase revenue and earnings to keep analysts bullish. Chesapeake Energy is well-positioned as crude oil prices are expected to rise.  Performance Food Group Company looks like a buy as elevated food prices highlight the convenience premium.  5 stocks we like better than CrocsAs investors face another uncertain year in the market, it could be time to look at small- and mid-cap stocks. That means looking at stocks that are listed on the Russell 2000 index. The Russell 2000 index ...

The S&P 500 managed to close last week in positive territory despite a challenging start to 2024. However, stocks ended the day with mixed results on Friday, surrendering earlier gains, particularly due to underwhelming big bank earnings, which failed to instill confidence in a robust quarterly earnings season. Overall, the S&P 500 added 1.84% last week, the Dow Jones has advanced 0.34% and the Nasdaq has eked out about 3% gains.Earnings ReportThe Dow Jones Industrial Average recorded a 0.3% decline, equiva ...

Last year, and its final quarter in particular, saw remarkable growth both on the stock market and with numerous cryptocurrencies. The growth was largely driven by renewed optimism stemming from numerous positive developments, which include a pause in interest rate hikes, cooling inflation, overall strength in the technology sector – particularly when it comes to artificial intelligence (AI) companies and related services – and many others.The S&P 500 index  – the index of the 500 largest stocks in the U.S. ...

Alex Wong/Getty Images News I nailed the bottom in Bank of America (NYSE:BAC) shares, as I argued back in October 2023 that Bank of America shares look undervalued compared to the bank's strong earnings power and expanding business franchise. A key argument for my bullish assessment was also based on investor's "irrational fear" relating to losses in the bank's securities portfolio, which provided the opportunity to scoop up BofA stock at a depressed valuation. Since my writing less than 3 months ago, B ...

We are off to a good enough start in the Q4 earnings season, though it may be hard to reach that conclusion from the seemingly ‘noisy’ big bank results. Please note that the bank results aren’t bad or weak, though most struggled to beat consensus revenue estimates.Bank of America’s Q4 earnings declined -17.3% from the year-earlier period on -10.5% lower revenues. The bank’s Q4 earnings actually beat estimates, so the year-over-year decline, largely due to the FDIC fee, was no surprise to the market. The com ...

The Score is a weekly review of the biggest stock moves and the news that drove them.PepsiCoWho broke up with whom, PepsiCo or Carrefour? ...